Ann: Share Cafe Webinar and Presentation, page-135

All IMO

You could be right...
However the CAPEX is relatively low for a start up.
Payback is 6 months and we can expect the company will use free cash flow to open other opportunities.
Based on current timelines 2024 is 2 years into production...

Right now we have the ceramics opportunities with CAPEX and working capital of $29m. MEP will pay 25% of that fee.

The recent addition of a potential building products solution with cement. If this is proven up it only requires the removal of sand from what is dug out of the ground. Again very low CAPEX requirement.

IMO All other opportunities are considering toll processing in the initial phase so again low CAPEX requirements.

IMO JM has made it clear he prefers to avoid dilution and wants to return dividends to SHs. It is also on the footer of every page of their website. My timing maybe out but JM has so far delivered on everything he has said and on time as well. Can't ask management of a spec stock to do more than that.

I look forward to the story unfolding. My guess is after a year or two of operations JM will be able to build a road map to dividends.

All IMO an not advice

GLTAH